Divulgación de información sobre riesgos y coste de los recursos propios: un enfoque bayesiano

Palabras clave: coste de los recursos propios, divulgación de información sobre riesgos, enfoque bayesiano

Resumen

El objetivo de este artículo es analizar la relación entre la divulgación de información sobre riesgo y el coste de capital de los recursos propios de empresas que cotizan en el mercado de capitales español. Este estudio utiliza un conjunto de 71 empresas que cotizaron en la Bolsa de Madrid entre 2010 y 2015; todas son empresas no financieras de las que había previsiones de beneficios. El problema se ha analizado bajo un enfoque de regresión lineal Bayesiana. Los resultados del estudio muestran que el coste de capital de los recursos propios y la información de riesgo divulgada no están relacionados cuando se toma la información de riesgos de manera global. Sin embargo, cuando la información de riesgo se divide en riesgos financieros y no financieros, se encuentra una relación positiva entre los riesgos financieros y el coste de capital de los recursos propios.

Biografía del autor/a

Jose Miguel Tirado-Beltrán, Universitat Jaume I

Doctor en Administración y Dirección de Empresas, Universitat Jaume I,
Castellón de la Plana - España, tirado@uji.es

José David Cabedo, Universitat Jaume I

Doctor en Administración y Dirección de Empresas, Universitat Jaume I,
Castellón de la Plana - España, cabedo@uji.es

Dennis Esther Muñoz-Ramírez, Universitat Jaume I

Máster en Gestión Financiera y Contabilidad Avanzada, Universitat Jaume I,
Castellón de la Plana - España, al184996@alumail.es

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Cómo citar
Tirado-Beltrán, J. M., Cabedo, J. D., & Muñoz-Ramírez, D. E. (2020). Divulgación de información sobre riesgos y coste de los recursos propios: un enfoque bayesiano. Revista CEA, 6(11), 25-43. https://doi.org/10.22430/24223182.1497

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Publicado
2020-01-30
Sección
Artículos de investigación